Three-month T-bills sold at auction at negative yield

Debt

pixabay

The Government Debt Management Agency (ÁKK) sold a planned HUF 15 billion of discount three-month T-bills at a negative yield of -0.02% at an auction on Tuesday. This was the first auction with a negative average yield, according to state news wire MTI.

Primary dealers bid for HUF 49.6 bln of the papers expiring on December 13.

The average yield of the papers was -0.02%, down after dropping to 0.00%, the previous record low in the past two weeks. The minimum and the maximum yield was also -0.02%.

The yield was the lowest ever recorded at a three-month bill auction. The minimum auction yield had fallen to -0.01% at two auctions this year, in March and August.

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